Spackman Equities Group Announces Closing of Private Placement of Common Shares
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 05/25/12 -- Spackman Equities Group Inc. ("SEGI" or the "Company") (TSX VENTURE: SQG) is pleased to announce that the previously announced private placement (the "Private Placement") of common shares of the Company has closed for gross proceeds of $4,350,000. The Company issued 39,545,451 common shares to arms-length investors at a price of $0.11 per common share. The proceeds of the Private Placement will be used by SEGI to pursue additional investments and for working capital purposes. The Company will pay a finder's fee of 5% of the gross proceeds of the Private Placement to Lerner, Griffin & Peltz Ltd.
The common shares issued in connection with the Private Placement will be subject to a four month hold period expiring on September 26, 2012. The Private Placement remains subject to final acceptance by the TSX Venture Exchange.
About Spackman Equities Group Inc.
Spackman Equities Group Inc. is a diversified investment holding company that invests into and develops small/medium-sized growth companies that possess proprietary technologies or industry-specific know-how, primarily in Asia. The objectives of SEGI are to (i) selectively invest into or acquire businesses with compelling growth potential at attractive valuations, (ii) build a diversified portfolio of investments, and (iii) deliver the collective value derived from the performance of its portfolio of investments to the shareholders of SEGI. Currently, SEGI's investment portfolio consists of a 17.92% equity stake in Intech LCD Group Limited, a China-based developer and manufacturer of flat panel displays and modules, and, through its holding subsidiaries, SEGI indirectly owns majority stakes in two leading Korean movie production companies, namely, Opus Pictures Co., Ltd. and Zip Cinema Co., Ltd.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Spackman Equities Group Inc.
Floria Lin
Investor Relations
+852 3902 3287
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Datum: 25.05.2012 - 09:10 Uhr
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News-ID 1118154
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